The Best Forex Market Hours For Maximum Profitability.
Whether you call it forex, FX or the foreign currency market, the subject is the same the international foreign currency exchange market. Unlike stock or other securities, foreign currency trades are not conducted at a single central market. In this market, there are a few global centers of finance which serve as the hubs for this market instead.
There are several different things which distinguish the foreign currency exchange market from other markets. These include the following:
- High liquidity due to large trade volume ? Decentralized global distribution ? High volatility in relative exchange rates ? Relatively low ratio of profit to income ? Open 24 hours a day, 5 days a week
The last of these factors is a frequent source of confusion and frustration for novice money changers. In the context of currency trading, ?24-hour operation? carries very different connotations than its ordinary implied definition.
Many people hear 24 hours and think that they can trade any time they like. While this is true technically speaking, there is more to it than this.
Rather than non-stop activity at a central location, ?continuous trading? denotes the perpetual existence of exchange opportunities somewhere in the world.
Due to time zones, it is always trading hours somewhere on the planet (except on weekends). When one market closes, one is open somewhere else around the globe. Knowing this is important to your career as a Forex trader, because there are good times for trading and times which are not quite so good.
The best time for forex trading is when there is a high volume of trades going on. At these times, traders have the best chance of making profitable trades; the best time is when trading is going on in multiple countries simultaneously.
Most currency trading markets are open from 8 AM to 4 PM (local time). Traders should find out which times of day that the trade volumes are highest. The higher the volume, the better off you are is the rule of thumb.
Major forex market hours are as follows:
New York ? trades from 8 am to 5 pm EST Tokyo ? trades from 7 pm to 4 am EST Sydney ? trades from 5 am to 2 am EST London ? trades from 3 am to 12 noon EST
So supposing you live in the US Eastern Time Zone, the best times to trade are:
New York and London ? from 8 am to 12 noon EST Sydney/Tokyo ? from 7 pm to 2 am EST London/Tokyo ? from 3 am to 4 am EST
There are quite a few websites out there aimed at Forex traders where you can download free programs to tell you the best trading times for your time zone. Just search for "Forex trading hours" in the search engine of your choice and you should find one.
Peddling within the boundaries of the forex trade arena is a highly dangerous game to play. Thousands of hopeful investors in the foreign exchange trading market are still peddling tirelessly.
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Source: http://financehelpnews.com/business-finance/the-best-forex-market-hours-for-maximum-profitability
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